It seems like there may be two issues here - one about the language used and the other (bigger one) about whether "training" is the solution to institutionalised discrimination and bigotry.
On the first one, language and the meaning of words change all the time for all sorts of reasons. In the 80's, the term "equalities training" or "equal ops training" was often used. But, then it was recognised that the issue wasn't just about having an "equal chance" because that implied that there was already a "level playing field." In the 90's, there was more talk of "anti-discrimination training," which gave the impression it was more direct at dealing with discrimination. But, the problem with that term is it seemed to start as a deficit, as a negative and the thought was that it should be seen as something positive and good instead.
I think somewhere after this, "diversity" came into use, acknowledging that different people could and should be valued for who they are and what they offer rather than striving to make them all equal / same. Similarly, "inclusion" was the flip side of anti-discrimination / exclusion with a more positive slant.
Whatever terms are used at any given time, it's really the concepts involved that are important, and while training can be an important component of shifting attitudes, practice and culture, it isn't the only one.
And that's what seems to be the second issue here - and often is, this idea amongst some in management (I think particularly in the public and voluntary sector, but not exclusively,) that the answer to most problems, including discrimination, bigotry and a not-very-diverse workforce is training. That just ain't so.
Thing is, it allows them to "look" like they are doing something if they order training, perhaps invest quite alot of money in it, make it mandatory even. But, often there isn't much "quality control" over whether the training is any good. More importantly, just sending folks on training isn't going to make a difference to organisational culture and practice that is institutionally racist, sexist, class prejudiced, etc.
For that to change, you need gutsy leadership willing to stick their necks out and even wield a stick to make sure things DO change. It has to be more than window dressing. They have to be prepared to get it in the neck AND be stabbed in the back for genuinely standing by the principles. It will mean taking steps against those who won't comply, including removing/getting them to move on. It will mean recruiting new folks who will promote the principles and support them if they face resistance. It's knowing it isn't going to be a quick fix but that in time, sometimes by baby steps, some times by leaps, things will change - and that you have to stay vigilant to ensure the culture, structure and practice doesn't regress into old patterns again.
Too often though, it's not like that, because particularly in large institutions, the real goal of those in charge is pretty much to maintain the status quo. That means not pissing folks off too much. That means not ruffling feathers. That means doing as little as possible that might result in actual change, but trying to make it "look" like you are doing something. It's window dressing.
Is this sort of what you think is going on at your firm?